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G+T wins for Blundy in Supreme Court
Gilbert + Tobin has successfully represented Brett Blundy’s private investment company BBRC in its third dispute against Alexandria Landfill.
BBRC is the owner of 53% of the preference shares in Alexandria Landfill, the owner of Dial a Dump. Along with other preference shareholders, BBRC is entitled to an 11% coupon per annum on the cost of its investment in Alexandria Landfill.
In 2015, sole director and ordinary shareholder of Alexandria Landfill, Ian Malouf, attempted to declare (but not pay) a $24 million dividend in favour of himself as ordinary shareholder without first paying the accrued coupon entitlements to BBRC and other preference shareholders, and without also declaring the dividend on a pari passu basis in favour of all preference shareholders.
BBRC applied for declarations that Mr Malouf’s resolution declaring but not paying a dividend in favour of himself was void and of no effect. Presiding judge, Justice Brereton, has ruled in favour of BBRC and against Alexandria Landfill, finding that Mr Malouf’s declaration was void.
The Gilbert + Tobin team advising on the dispute was led by Partner Crispian Lynch and supported by lawyers Peter Munro, Laura Tompkins and Ryan Turner. This was the third successful win for Brett Blundy and BBRC in the Supreme Court of New South Wales and the Court of Appeal against Alexandria Landfill since 2014.
Gilbert + Tobin’s Litigation team was recently named as National Law Firm of the Year (Australia) at the 2016 Asia-Pacific Dispute Resolution Awards, for the second consecutive year.